Future Accident Suraksha Insurance Plan

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Future Accident Suraksha Insurance

	Objective		A personal accident policy that aims to cover against accidental death and disability along with additional options to cover various incidental losses.
Suited for		It can be bought as an individual or a family cover including up to two adults and two children. Additional covers offered are useful for those holding a basic health insurance policy providing a compact coverage.
What does it do?		As it is clear from the name, this is an accidental insurance policy covering accidental death and disability. Apart from a simple accidental cover, this policy also pays extra amount for additional benefits taken by paying extra premium. Additionally, it pays education fund for children, monthly life support benefit in case of permanent total disability, accidental medical expenses, daily cash benefit in case of hospitalisation, monthly sum to repay loan EMIs, funeral expenses and expenses for modification of house or vehicle in case of permanent total disability and allowance for transportation of family. Each of the additional benefit comes with certain eligibility conditions and maximum limits.
Pros		Additional benefits can cater to varied needs of different policyholders.
Cons		There is no taxation benefit.
Our View		It can be called a comprehensive accident cover. Additional covers add value to this policy. For instance, anyone with an outstanding loan can avail the loan protector benefit. Similarly, adaptation benefit is useful if an individual is engaged in a risky job such as construction site work or machine operation etc. Child education support makes sense if the policyholder has dependent children who are yet to complete their studies. While these benefits are meaningful, one must not attach all riders. While buying policies that allow customization, an individual must take note of existing insurance coverage because there is no need to duplicate the cover by buying the same benefit again.

 

	Eligibility
Entry Age (years)
Minimum		18; 5 for Children
Maximum		65; 25 for Children
Maximum Policy Renewal Age (years)		70
Coverage Type		Individual/ family
Policy Term (years)		1
Sum Insured (Rs)
Maximum		25 lakh
Minimum		1 lakh
No Claim Bonus		5% on primary cover(s) every year subject to 25% of the original policy sum insured
Policy Termination		Either of insurer or insured can cancel the policy by giving a 15 days notice in writing.
Customer Service
Address		Registered Office: Indiabulls Finance Centre, Tower 3, 6th Floor, Senapati Bapat Marg, Elphinstone (W), Mumbai - 400 013
Mail to		care@futuregenerali.in
Call to		1800-220-233 (BSNL / MTNL) 1860-500-3333 (others)
SMS		FG to 567678

 

	Scope of Cover
Accidental Death		pays 100% of the sum insured
Permanent Total Disablement		pays 100% of the sum insured
Permanent Partial Disablement		pays a pre-specified percentage of sum insured depending on the nature of disablement
Temporary Total Disablement		pays a sum as stated in the policy
Additional Benefits (requires payment of extra premium)
Child Education Support		monthly benefit for stated term upon death of permanent total disablement of the insured for child upto 21 years of age
Life Support Benefit		monthly benefit of stated amount for a stated term if insured becomes Permanent totally disable
Accidental Medical Expenses		covers hospitalisation expenses
Hospital Cash Allowance		provides a cash amount for each completed day in hospital for a maximum period mentioned in policy document
Loan Protector		Pays lower of actual loan EMI or the monthly sum mentioned in the policy schedule upon death or permanent disablement or in case hospitalized as a result of an accident.
Repatriation Benefit and Funeral Expenses		pays upto 1% of principal sum insured subject to maximum of Rs 12500
Adaptation Allowance		any modification to vehicle or house due to Permanent Total Disablement(PTD) will be covered upto 10% of principal sum insured subject to a maximum of Rs 50000 provided insurer pays claim towards PTD
Family Transportation Allowance		pays upto 10% of principal sum insured subject to maximum of Rs 50000

 

	Exclusions and Waiting Period
Pre-existing diseases		not covered
Other exclusions		any pre-existing disablementemergency medical evacuation participation in any adventurous sport or activityparticipation in any illegal or criminal or related activities

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